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The Speculators 2008 Wall Street Meltdown and Bailout

The Size of Derivatives Bubble = $190K Per Person on Planet

http://www.siliconvalleywatcher.com/mt/archives/2008/10/the_size_of_der.php
By Tom Foremski - October 16, 2008

More must read financial analysis from DK Matai, Chairman of the ACTA Open.
he Invisible One Quadrillion Dollar Equation -- Asymmetric Leverage and Systemic Risk

According to various distinguished sources including the Bank for International
Settlements (BIS) in Basel, Switzerland -- the central bankers' bank -- the amount
of outstanding derivatives worldwide as of

December 2007 crossed USD 1.144 Quadrillion, ie, USD 1,144 Trillion.

The main categories of the USD 1.144 Quadrillion derivatives market were the following:

1. Listed credit derivatives stood at USD 548 trillion;

2. The Over-The-Counter (OTC) derivatives stood in notional or face value at USD 596 trillion and included:

a. Interest Rate Derivatives at about USD 393+ trillion;

b. Credit Default Swaps at about USD 58+ trillion;

c. Foreign Exchange Derivatives at about USD 56+ trillion;

d. Commodity Derivatives at about USD 9 trillion;

e. Equity Linked Derivatives at about USD 8.5 trillion; and

f. Unallocated Derivatives at about USD 71+ trillion.

Quadrillion? That is a number only super computing engineers and astronomers used to use, not economists and bankers!


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